Insurers have for decades relied on economic scenario generators (ESGs) in their risk modelling, asset management and business steering. Christopher Cundy investigates what the next big developments might be in this important piece of modelling software

The upcoming EU's General Data Protection Regulation (GDPR) applies to all companies with personal records, but there are certain aspects insurers are finding particularly difficult. Cintia Cheong reports

The arrival of Solvency II and revised guidance on embedded value methodologies has led to changes in the financial metrics that European insurers report – and not all of them are welcome. David Walker reports

Analysis

An 'inappropriate culture' often takes the blame for all kinds of corporate misdemeanour, but judging the culture and correcting the failings can challenge the best of firms. Paul Harwood suggests a strategy to help management get it right

The young reinsurer One Re is somewhat of a specialist, focusing as it does on non-life risks facing clients in Africa. But its chief risk officer Ross McGee tells David Walker that the challenges remain the same, including reporting challenges under Solvency II, soft markets, and risk models.

Despite the IAIS heralding the launch of insurance capital standard version 1.0, insurers say it has achieved a lot less than originally promised. Is it time to scale back ambitions for version 2.0? Callum Tanner reports

Upcoming events

With political change in the US and Brexit in Europe new questions have been raised in the past few months as to the effect these will have on the Bermudan market. This conference will focus on the strengths and opportunities Bermuda presents together with a focus on the global regulatory environment.

Insurance is one of the industries that could be most affected by climate change due to what it insurers and what it invests in, so the aim of this conference is to bring together departments on both sides of the insurer’s balance sheet so that they can discuss and learn what roles they can play in response to climate risk.

Market Insight

The new insurance contracts accounting standard brings a dramatic shift in accounting and actuarial practices, and insurers should be prepared for implementation challenges, as Kamran Foroughi explains

A rapidly changing world produces rapidly emerging risks that can flummox even the most comprehensive of risk management frameworks. Neil Cantle proposes an approach to improving how insurers respond to today's threats...

As insurers prepare for another round of system adaptation and process review with the introduction of IFRS 17, Andries Beukes shares his experience in modernising actuarial systems and discusses what role actuaries have in the success – and failure – of transformation projects